Notional expenses

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RASHMI N

RASHMI N (Querist)
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14 July 2015 WHAT IS MEANT BY NOTIONAL EXPENSES HOW IT WILL TRAETED IN INCOME TAX IN B/S INCOME

Amol S Joglekar

Amol S Joglekar (Expert)
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14 July 2015 the expenses which are not incurred but having NOTIONAL value are said to be notional expenses. Income tax does not recognise any such expenses unless otherwise specifically provided in any of the sections.....e.g. depreciation.

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CMA Gul S

CMA Gul S (Expert)
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14 July 2015 Notional means imaginary, speculative or conceptual i.e. something that has no actual existence and is mere imagination.

Same way a notional cost is an imaginary cost which is sometimes included in the cost units and cost centers to make costing estimates more realistic or simply more challenging especially when the performance of cost unit and cost center is in question in comparison with such other competitors which are not enjoying the same level of benefits.

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RASHMI N

RASHMI N (Querist)
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15 July 2015 THANKS WHAT IS DEFFERED TAX